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DreamWorks Animation, Netflix seal deal

LOS ANGELES, USA - DreamWorks Animation will release new original shows exclusively on Netflix, under a deal announced Monday by the video service and the studio behind blockbusters "Shrek" and "Kung Fu Panda."

The multi-year deal is the largest content agreement in the history of the California-based on-demand video provider, the two companies said a joint statement.

It is expected to include more than 300 hours of original programming, with shows inspired by past and future DreamWorks films. The first DreamWorks series is set to debut next year.

"This is an unprecedented commitment to original content in the Internet television space," said the studio's boss Jeffrey Katzenberg, hailing the "visionary" Netflix.

"It is a thrill to add to their growing momentum."

Netflix chief content officer Ted Sarandos called DreamWorks Animation a "valued partner in our global efforts to provide families the most engaging stories delivered however, whenever and wherever they want."

"This deal represents a major expansion of what's already a phenomenal relationship, allowing us to bring beloved DreamWorks characters to the 40 countries where Netflix operates," he added.

DreamWorks, which is also behind the "Madagascar" and "How to Train Your Dragon" franchises, announced a deal with Netflix in February for an original series based on the upcoming film "Turbo."

Feature films will also be released on Netflix beginning next year, starting with "The Croods," "Turbo" and "Mr Peabody and Sherman," the two companies said.

Primarily a platform for viewing recent and not-so-recent films and TV shows, Netflix branched out into original programming in February this year with the political thriller "House of Cards" starring Kevin Spacey.

In April, the northern California-based company said revenue climbed to US$1.02 billion as it added 2.03 million new subscribers in the first 3 months of this year.

DreamWorks Animation is based in Glendale, just outside Los Angeles in southern California. - Rappler.com